Bank of America Cuts Eastman Chemical (NYSE:EMN) Price Target to $74.00

Eastman Chemical (NYSE:EMN) had its price objective reduced by Bank of America from $78.00 to $74.00 in a research note released on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the basic materials company’s stock.

Several other brokerages have also issued reports on EMN. Royal Bank Of Canada lowered their target price on Eastman Chemical from $91.00 to $74.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 5th. The Goldman Sachs Group lowered their target price on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Mizuho lowered their target price on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Eastman Chemical in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on Eastman Chemical from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.62.

Eastman Chemical Stock Performance

Shares of Eastman Chemical stock opened at $60.17 on Tuesday. The firm has a market capitalization of $6.91 billion, a P/E ratio of 8.45, a price-to-earnings-growth ratio of 6.12 and a beta of 1.29. The business’s fifty day simple moving average is $65.10 and its 200 day simple moving average is $73.21. The company has a current ratio of 1.68, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. Eastman Chemical has a 12 month low of $56.78 and a 12 month high of $110.05.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.12). The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.32 billion. Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. As a group, analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Monday, September 15th. Eastman Chemical’s dividend payout ratio is currently 46.63%.

Hedge Funds Weigh In On Eastman Chemical

Hedge funds and other institutional investors have recently modified their holdings of the company. MUFG Securities EMEA plc purchased a new position in shares of Eastman Chemical in the 2nd quarter worth about $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Eastman Chemical by 65.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 146 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Eastman Chemical in the 2nd quarter worth about $32,000. National Pension Service boosted its holdings in shares of Eastman Chemical by 75.3% in the 1st quarter. National Pension Service now owns 433 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 186 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in Eastman Chemical during the 2nd quarter valued at about $33,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Company Profile

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.